Candel Q2 net loss $9.6M; CAN-2409 NSCLC Fast Track; cash runway through Q2 2024

Candel Therapeutics, Inc.

2023-Q2 EPS reported -$0.64

Net loss of $9.6M in Q2 2023 vs $4.1M in Q2 2022, driven by higher R&D costs and warrant liability change.
Cash and equivalents $51.9M as of June 30, 2023; expected to fund operations into Q2 2024.
CAN-2409 granted FDA Fast Track Designation for NSCLC; topline overall survival data expected Q2 2024.
CAN-3110 phase 1 recurrent HGG trial showed median OS of 11.8 months; repeat dosing arm enrolling.
Initial overall survival data for CAN-2409 in borderline resectable pancreatic cancer expected Q4 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Candel Therapeutics, Inc. reported the second quarter ended June 30, 2023 results: net income Net loss for the second quarter of 2023 was $9.6 million.

Period: the second quarter ended June 30, 2023
Net income: Net loss for the second quarter of 2023 was $9.6 million
Result: reported results

Exact text from the filing

On August 10, 2023, Candel Therapeutics, Inc. announced its financial results for the quarter ended June 30, 2023. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

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Source: SEC EDGAR

accession 0000950170-23-040980

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